A cryptocurrency entirely dedicated to GAMBLING? - page 6.

Finestream

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Quote from: qwertyup23 on September 23, 2019, 05:59:57 AM

Quote from: dupee419 on December 15, 2018, 10:57:36 AM

An idea came onto my mind, and it consists about a currency that is entirely dedicated onto gambling and also betting, I did not search through the web if there is actually a crypto that has done this. Gambling is a thing that the people love to do, whether if it is in the casino or online, but have you ever thought of a crypto that will serve as your main currency whether if it is in the casino or it is on online, I think this could also be beneficial for the gamblers as well, I wanna know about what you think of my idea, whether if it is a positive or negative opinion, I will still take it.

The reason on why most people use BITCOIN as their currency for gambling is due to its value that no other altcoin can match.

Assuming that we were to use a currency entirely dedicated to gambling, the next question would be the price of such currency. Remember what determines the price of BITCOIN is the number of people who uses the currency. Basically, the law of supply and demand governs its price on the market.

Going back, if there exist such currency for gambling, its price would start at rock-bottom and its supply would be relatively huge. This would mean that it's actually priceless until people use it, which I doubt will happen anytime soon.

I don't think it's solely because of the value because bitcoin is not only moving in one direction, it could also pump and dump, it's volatile in short.

The reason I believe is that Bitcoin is the most popular currency that's why more people are using it, and as more and more platform adopting with bitcoin, it will also help to increase its value due to the increase of demand, however, if you are a gambler, your main focus is to win in the game and not the possibility that the money you gamble will rise in value, in fact that's a high risk since you are gambling to win in both price movement and the amount you bet on whatever game you are playing.

For me, I would also love to see more gambling sites accepting a stable coin, at least this will entice gamblers really just play to win the game.

qwertyup23

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Quote from: dupee419 on December 15, 2018, 10:57:36 AM

An idea came onto my mind, and it consists about a currency that is entirely dedicated onto gambling and also betting, I did not search through the web if there is actually a crypto that has done this. Gambling is a thing that the people love to do, whether if it is in the casino or online, but have you ever thought of a crypto that will serve as your main currency whether if it is in the casino or it is on online, I think this could also be beneficial for the gamblers as well, I wanna know about what you think of my idea, whether if it is a positive or negative opinion, I will still take it.

The reason on why most people use BITCOIN as their currency for gambling is due to its value that no other altcoin can match.

Assuming that we were to use a currency entirely dedicated to gambling, the next question would be the price of such currency. Remember what determines the price of BITCOIN is the number of people who uses the currency. Basically, the law of supply and demand governs its price on the market.

Going back, if there exist such currency for gambling, its price would start at rock-bottom and its supply would be relatively huge. This would mean that it's actually priceless until people use it, which I doubt will happen anytime soon.

Saisher

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Quote from: dupee419 on December 15, 2018, 10:57:36 AM

An idea came onto my mind, and it consists about a currency that is entirely dedicated onto gambling and also betting, I did not search through the web if there is actually a crypto that has done this. Gambling is a thing that the people love to do, whether if it is in the casino or online, but have you ever thought of a crypto that will serve as your main currency whether if it is in the casino or it is on online, I think this could also be beneficial for the gamblers as well, I wanna know about what you think of my idea, whether if it is a positive or negative opinion, I will still take it.

I understand this thread was created almost a year ago, so many things have happened from the time you posted here until now, there are now so many gambling sites that are based in Cryptocurrency and it's a big help for gambling operators because people now can easily fund their account and he can gain new players from Cryptocurrency, it's a win-win situation for owners, gamblers and the Cryptocurrency industry.

NewCryptocasinos

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Gamble Responsibly

I think this is the kind of coin you are looking for, I have seen them being very active lately and it looks like the might have something interesting going on.

CasinoCoin
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xSkylarx

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Quote from: dupee419 on December 15, 2018, 10:57:36 AM

~snip

EDG or edgeless token already did this. Their token's use cases primarily focus on their gambling platform. They conducted an ICO before, I just can't remember if it was last year or 2017.

More Info : https://www.edgelessgroup.io/token
Gambling Website : https://edgeless.io

Oilacris

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Quote from: iMark on September 22, 2019, 02:39:01 PM

Quote from: zhekinsp on February 18, 2019, 11:37:51 PM

Quote from: mr.robot8 on February 10, 2019, 12:39:12 PM

i would like to see and use an altcoin entirely dedicated to gambling with maybe transfers and immediate credits and fixed value (stable coin)

Fixed coin may not bring the adrenaline which you can get from playing with bitcoin or other high volatile cryptos.

Actually fluctuation will not be too influential in gambling. fluctuation will not change 360 degree when you play gambling. so fluctuation won't make you lose. for example you played gambling that day with altcoin even though the fluctuations happen it won't hurt you, because you only play for a few hours only. And just price doesnt much change in just few hours, so gambling using altcoin or bitcoin is the same.

Not only minding with little hours of playing gambling.Fluctuations wont really be a big concern.If you are a gambler you wont really mind on the volatility because the one thing only comes to your mind is into make winnings or money. Small movements wont really bother you at all.

iMark

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Quote from: zhekinsp on February 18, 2019, 11:37:51 PM

Quote from: mr.robot8 on February 10, 2019, 12:39:12 PM

i would like to see and use an altcoin entirely dedicated to gambling with maybe transfers and immediate credits and fixed value (stable coin)

Fixed coin may not bring the adrenaline which you can get from playing with bitcoin or other high volatile cryptos.

Actually fluctuation will not be too influential in gambling. fluctuation will not change 360 degree when you play gambling. so fluctuation won't make you lose. for example you played gambling that day with altcoin even though the fluctuations happen it won't hurt you, because you only play for a few hours only. And just price doesnt much change in just few hours, so gambling using altcoin or bitcoin is the same.

robelneo

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Quote from: dupee419 on December 15, 2018, 10:57:36 AM

An idea came onto my mind, and it consists about a currency that is entirely dedicated onto gambling and also betting, I did not search through the web if there is actually a crypto that has done this. Gambling is a thing that the people love to do, whether if it is in the casino or online, but have you ever thought of a crypto that will serve as your main currency whether if it is in the casino or it is on online, I think this could also be beneficial for the gamblers as well, I wanna know about what you think of my idea, whether if it is a positive or negative opinion, I will still take it.

Just check out Eos and Tron they have a lot of gaming and gambling applications but all the Cryptocurrency can serve this purpose, in my opinion, it's not a good idea that you only use one currency in your gambling site if you are the owner or creator, you will lose some clients who gamble with other tokens, besides the one token that you are using.
You will lose your competitiveness in the market if you only use one coin.

iamsheikhadil

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I really like the idea of it. The currency can be uniformly integrated in every crypto gambling site and can be exchanged from site to site but it can't be withdrawan but only exchanged to other currencies for withdrawal. It will surely make a good currency and would gain valuation. Maybe there will be exchanges or even wallets to adopt the coin to trade for gamblers wanting to buy it to gamble. This way, the currency will be higher in price, and since it's jointly launched by all casinos (or many casinos), they will be in profit. But it's too complicated a process to happen xD

BlueBaikal

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In breaking down social gaming, eGaming and eSports, we will be taking a look at how these aspects of online gaming have evolved individually. We will also be considering the factors that have enabled them to grow to their present levels. Also, how present day technologies are enhancing the gaming ecosystem and the opportunities that are already being exploited in each sector.

To read more please follow this link: https://medium.com/@bluebaikalproject/breaking-down-social-gaming-egaming-and-esports-897a4dafba1e

neonshium

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Quote from: Little Mouse on March 07, 2019, 10:50:43 PM

If I am correct, I already have seen such a project somewhere in ICO review sites. They have planned to launch their coin in 2019 but I'm not sure what the name is.

I think that will not make a very big difference because people still have and then as well would have many options to make use of.

Bitcoin is preferable as well. And people will use the one good coin that has stayed for sometimes now. So what I want to say is that it is not the coin/currency we use in gambling rather the benefits that we focus on. And I do not think that an ICO entirely dedicated for gambling would be a big success.

absy

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Quote from: GregH37 on March 09, 2019, 06:12:28 AM

Quote from: micher143 on March 07, 2019, 08:41:54 PM

-snip-

The existence of too many crypto currencies is the reason why I believe the market is not functioning well and coming out of BEAR, to many crypto currency to invest in.

I wish everyone can just stick their currency to their own personal projects just like the author picked one, we would have seen a massive growth in the crypto currency market, imagine the OP succeed in breathing one, 50% of people that are meant to invest in other currency to push the market volume up will pull back and invest in this, same thing will happen to his too when another one comes up, that is why we have too many failed projects.

Agreed , with new coins entering the market every single day it's spoiling the overall crypto market . The problem is most of the coin owners are solely looking forward to make as much as they can when the prize is high . This results in failed projects .

GregH37

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Quote from: micher143 on March 07, 2019, 08:41:54 PM

-snip-

The existence of too many crypto currencies is the reason why I believe the market is not functioning well and coming out of BEAR, to many crypto currency to invest in.

I wish everyone can just stick their currency to their own personal projects just like the author picked one, we would have seen a massive growth in the crypto currency market, imagine the OP succeed in breathing one, 50% of people that are meant to invest in other currency to push the market volume up will pull back and invest in this, same thing will happen to his too when another one comes up, that is why we have too many failed projects.

absy

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I think you haven't come across Steemit and steem .
Steemit is a blog which pays its users steem. Many Dapps are emerging nowadays built on steem so it's a great cryptocurrency for bloggers and not gamblers.

Little Mouse

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If I am correct, I already have seen such a project somewhere in ICO review sites. They have planned to launch their coin in 2019 but I'm not sure what the name is.

Polar91

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I don't think we need that since we already have Bitcoin and other altcoins which charges us with low fee and safe at the same time. I think the cryptocurrency we have now is enough to protect your identity against fraud/scammers in gambling which is the main problem if we're going to use banks or whatsoever.

tabas

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Quote from: Ucy on March 07, 2019, 03:35:30 PM

This can be quite expensive and a waste of resources considering that most cryptocurrencies need a lot of demands to be successful. How do you get the users when cryptocurrency gambling is not that popular at the moment? The less expensive ways to do this sort of thing would be on platform coins like ethereum, via tokens.

No need to think on how expensive it is to have this kind of dedicated crypto for gambling. We already have plenty of them and the casino operators and the gamblers are free to use whether they will gamble with bitcoin, litecoin, ethereum and other accepted altcoins.

micher143

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Quote from: dupee419 on December 15, 2018, 10:57:36 AM

An idea came onto my mind, and it consists about a currency that is entirely dedicated onto gambling and also betting, I did not search through the web if there is actually a crypto that has done this. Gambling is a thing that the people love to do, whether if it is in the casino or online, but have you ever thought of a crypto that will serve as your main currency whether if it is in the casino or it is on online, I think this could also be beneficial for the gamblers as well, I wanna know about what you think of my idea, whether if it is a positive or negative opinion, I will still take it.

Well, that is a great idea if cryptocurrency have no capacity and capability to be used for online gambling but since all cryptocurrency can be used depending on the casino or gambling site you wish play, the idea of your makes no sense anymore. Although you have a great idea in mind, but the existence of cryptocurrency do already cater like almost anything in the range of internet so there is no need for the creation of a crypto designated only for gambling because all cryptos can already be used as we desire to use it in any purpose. It will just be added into the thousands of existing crypto coin in the market if ever. Just like the online casino I am currently into, wherein Bitcoin is the cryptocurrency accepted for transactions like deposit, so I do not need anymore a crypto designated for gambling because Bitcoin can already give me access to the variety of games I enjoy plus have the opportunity to receive their welcome bonus for doing my first deposit in terms of Bitcoin.

Oceat

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Quote from: akram143 on February 10, 2019, 09:14:27 AM

I think creating the better currency for gambling will be a good idea because gambling feel well developed a lot more than before so we need to change something new for attracting the people to invest so developing a single currency for gambling only will made the field more stronger and it will easy to use by The Gambler.

There is no need for that since there are previous and lots of cryptocurrencies are already developed just for gambling itself and yet most people don't bother to use them, but instead, they use the top coins in CMC. It will only create a shit coin once that gambling platform stops using that cryptocurrency because gamblers will stick to the most common and stable one.

serjent05

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There is platform last year that held an ICO about recreations and online shopping. In the same platform they also have gambling online using the platform's coin. In other word the value of the coin will derive from its uses within the platform itself like mean of payment in online shopping within the platform, coin used for gambling and they also have an exchange if I'm not mistaken in the same platform. So maybe this one answers your question. The strategy will be, you will need to buy their coins to be able for you to participate in gambling or online games and to pay for shopping and if you accumulate much in winning you can change your coins to any major cryptocurrency in their exchange.

Topic: A cryptocurrency entirely dedicated to GAMBLING? - page 6. (Read 18588 times)